Gallantt Ispat Ltd today said that it hopes that the Uttar Pradesh government may purchase its land in Gorakhpur for a proposed metro rail project there.
The company was responding to queries sent by the exchanges on local media reports about its role in the proposed metro rail project for Gorakhpur.
Gallantt said that the proposed metro rail project has a relevance to the company as the route declared by Gorakhpur Development Authority in newspapers would pass through the company-owned land.
"If the detailed project report (DPR) is cleared by the union urban development ministry and clearance from finance, railways and civil aviation departments are received, government may acquire the land of the company," Gallantt Ispat said.
Within days of becoming chief minister of the state, Yogi Adityanath had announced a metro rail project in Gorakhpur -- also his home constituency.
The UP government is going ahead with a detailed project report (DPR) on the proposed metro rail project in Gorakhpur.
Kolkata-based Gallantt has a significant presence in Uttar Pradesh. It manufactures iron and steel products such as sponge iron, pellets, pig iron, cast iron, bars, rods, billets and is also enganged in wheat products business.
Gallantt Ispat stock closed 18.81 per cent down at Rs 340.40 on BSE today.
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